Access the full text.
Sign up today, get DeepDyve free for 14 days.
P. Slovic, Baruch Fischhoff, S. Lichtenstein (1982)
Judgment under uncertainty: Facts versus fears: Understanding perceived risk
K. Brown, W. Harlow, S. Tiniç (1988)
Risk aversion, uncertain information, and market efficiencyJournal of Financial Economics, 22
W. Bondt, R. Thaler (1987)
Further Evidence On Investor Overreaction and Stock Market SeasonalityJournal of Finance, 42
A. Lo, A. Mackinlay (1987)
Stock Market Prices Do Not Follow Random Walks: Evidence from a Simple Specification TestNBER Working Paper Series
W. Reddaway (1937)
THE GENERAL THEORY OF EMPLOYMENT, INTEREST AND MONEYEconomic Record, 12
(1988)
Market Overreaction: Magnitude and Intensity,
Kalok Chan (1988)
On the Contrarian Investment StrategyThe Journal of Business, 61
R. Shiller (1984)
Stock Prices and Social Dynamics, 15
Evidence of Pre-This content downloaded from 205.178.83.80 on Fri
J. Campbell, R. Shiller (1988)
Stock Prices, Earnings and Expected DividendsCapital Markets: Asset Pricing & Valuation
Benjamin Graham (1949)
The Intelligent Investor: A Book of Practical Counsel
E. Fama, K. French (1988)
Permanent and Temporary Components of Stock PricesJournal of Political Economy, 96
J. Schumpeter, J. Keynes (1936)
The General Theory of Employment, Interest and Money.Journal of the American Statistical Association, 31
F. Eugene (1965)
FAMA, . The Behavior of Stock-Market Prices, Journal of Business, , ., 38
K. French, Richard Roll (1986)
Stock return variances: The arrival of information and the reaction of tradersJournal of Financial Economics, 17
(1978)
The Effect of Earnings Yield on Assessments of the Association Between Annual Accounting Income Numbers and Security Prices,
D. Grether (1980)
Bayes Rule as a Descriptive Model: The Representativeness HeuristicQuarterly Journal of Economics, 95
E. Fama (1965)
The Behavior of Stock-Market PricesThe Journal of Business, 38
E. Fama, K. French (1988)
Dividend yields and expected stock returnsJournal of Financial Economics, 22
Donald Keim (1985)
Dividend yields and stock returns: Implications of abnormal January returnsJournal of Financial Economics, 14
K. West (1988)
Bubbles, Fads and Stock Price Volatility Tests: A Partial EvaluationJournal of Finance, 43
J. Long, A. Shleifer, Lawrence Summers, Robert Waldmann (1990)
Noise Trader Risk in Financial MarketsJournal of Political Economy, 98
Donald Keim (1983)
SIZE-RELATED ANOMALIES AND STOCK RETURN SEASONALITY Further Empirical EvidenceJournal of Financial Economics, 12
E. Fama, K. French (1986)
Common Factors in the Serial Correlation of Stock ReturnsThe Finance
J. Keynes (1937)
The General Theory of EmploymentQuarterly Journal of Economics, 51
W. Bondt (1989)
Stock Price Reversals and Overreaction to News Events: A Survey of Theory and Evidence
R. Banz (1981)
The relationship between return and market value of common stocksJournal of Financial Economics, 9
Barr Rosenberg., K. Reid, Ronald Lanstein (1985)
Persuasive evidence of market inefficiency, 11
Noise Trading and Efficiency in Behavioral Finance
(1988)
The Information Content of Extreme Negative Rates of Return,
D. Hendricks, Jayen Patel, R. Zeckhauser (1990)
Hot Hands in Mutual Funds: the Persistence of Performance, 1974-87Mutual Funds
D. Kahneman, A. Tversky (1982)
Judgment under uncertainty: On the psychology of prediction
K. West (1988)
Bubbles, Fads, and Stock Price Volatility Tests: a Partial EvaluationEconometrics: Applied Econometrics & Modeling eJournal
J. Howe (1986)
Evidence on Stock Market OverreactionFinancial Analysts Journal, 42
G. Edwards, John Williams (1939)
The Theory of Investment Value.Journal of the American Statistical Association, 34
(1981)
Do Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends?
J. Poterba, L. Summers (1987)
Mean Reversion in Stock Prices: Evidence and ImplicationsNBER Working Paper Series
Guimaraes editors, A Reappraival of the Efficiency of Financial Markets Heidelberg
W. Bondt, R. Thaler (1985)
Does the Stock Market OverreactJournal of Finance, 40
J. Delong, A. Shleifer, L. Summers, R. Waldmann (1988)
The Survival of Noise Traders in Financial MarketsNBER Working Paper Series
S. Basu (1977)
Investment Performance of Common Stocks in Relation to their Price-Earnings Ratios
Preferences Scientific (1982)
Kahneman, Daniel, and Amos Tversky.Psychology, 246
W. Brock, B. LeBaron (1989)
Liquidity Constraints in Production Based Asset Pricing ModelsCapital Markets: Asset Pricing & Valuation
Paul Zarowin (1990)
Size, Seasonality, and Stock Market OverreactionJournal of Financial and Quantitative Analysis, 25
Abstract Stock prices do appear to be somewhat predictable. In particular, if one takes a long-term perspective (3–7 years) or examines individual securities that have experienced extreme price movements, then stock returns display significant negative serial correlation, in other words, prices are mean reverting. This column reviews some of this evidence.
Journal of Economic Perspectives – American Economic Association
Published: Feb 1, 1989
Access the full text.
Sign up today, get DeepDyve free for 14 days.